Press release
Automotive Starter Motor Market 2019 Growing At Highest CAGR From 2019 T o 2023 - Size, Trends, Share, And Regional Forecast To 2023
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The key factors that are driving the growth of this market include the development of advanced technology, the rise in the demand for passenger and commercial vehicles, and stringent government regulations for emission. In the emerging economies, the market is rising primarily due to a rise in the demand for passenger and commercial vehicles. Due to regulations regarding emissions, the demand for electric starter motor has started to rise.
The global automotive starter motor market has been segmented based on component, type, engine type, vehicle type, and lastly, region. As per the component-based segmentation, the market has been segmented into armature, brush, return spring, shift fork, solenoid, and others. By types, this market has been segmented into electric, hydraulic, and pneumatic. As per engine type segmentation, the market has been segmented into a diesel engine and gasoline engine. The vehicle types have been segmented into the passenger car and commercial vehicle.
The regional segmentation of the global automotive starter motor market segments the market into regional markets like North America, Europe, Asia Pacific, and the rest of the world (RoW). The Asia Pacific market is likely to emerge as a fast-growing market during the forecast period because due to economies rising, the personal disposable income of people in this region is rising because of which the automotive sales are growing in this region, especially in countries like India and China. Another significant country-specific market in this region is Japan, followed by the rest of the Asia Pacific region.
Due to an increase in the production of commercial vehicles, North America is expected to stand as the second largest market. As commercial vehicles require the use of pneumatic and hydraulic starter motor, the demand for starter motor is likely to rise in North America. The most significant country-specific markets in this region are Canada and the United States of America (USA). In Europe, the automotive starter motor market gets benefitted from cure research and development projects undertaken by various automotive manufacturers. Due to cutthroat competition among the competitors in starter motor market, manufacturers are giving priority to the quality within automobiles components. The rising demand for premium and luxury vehicle has contributed towards the growth of the automotive starter motor market. According to the report, Germany is expected to stay as the biggest market during the forecast period. Other significant country-specific markets in this region are France, Italy and the United Kingdom (UK), followed by the rest of Europe.
Key Players
The key players in the global automotive starter motor market include ASIMCO Technologies Ltd. (China), BBB Industries (USA), BorgWarner Inc. (USA), Cummins Inc. (USA), Denso Corporation (Japan), Hella KGaA Hueck & Co. (Germany), Hitachi Automotive Systems, Ltd. (Japan), Lucas Electrical Limited (UK), Mitsuba Corporation (Japan), Mitsubishi Electric (Japan), Ningbo zhongwang AUTO Fittings Co.,Ltd. (China), Remy International, Inc. (USA), Robert Bosch GmbH (Germany), Unipoint Electric MFG Co., Ltd. (Taiwan), and Valeo SA (France).
Latest Industry News
Würth Elektronik ICS has created an optimal connecting solution called SKW connector system using SKEDD technology for Getriebebau NORD, one of the leading manufacturers of drive technology. SKW connector systems offer advantages due to their direct, reversible plug-in capability, robustness and simple assembly, among other factors. 11 SEP 2018
Knorr-Bremse TruckServices are set to sell the starter motors and generators from market leader SEG Automotive. 10 SEP 2018
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